Weekly Update from Sam

Statement

Dear Friends:

Last week, the U.S. Department of Labor released its latest unemployment report for February. The slightly improved numbers were a welcome sight after two years of rates at or above 9%, but we still have a long way to go before businesses truly regain the confidence needed to expand and create jobs. As we digest these Labor statistics, let us not forget the startling underemployment rate of 15.9%, which includes part-time workers and those who've given up looking for work.

House Republicans are committed to erasing economic uncertainty by embracing fiscal responsibility, less government regulation and tax relief for our job creators so that our families can get back to work. As our new House majority strives to remove barriers for job creation in this 112th Congress, we hope that the Senate majority and President will join us.

Yesterday, I joined three other House Republican Committee Chairmen in sending a letter to President Obama urging him to reduce costly government regulations that burden American businesses and restrict economic growth. Judiciary Committee Chairman Lamar Smith (R-Texas), Oversight Chairman Darrell Issa (R-Calif.), and Energy and Commerce Chairman Fred Upton (R-Mich.) signed the letter with me.

According to the Small Business Administration's Office of Advocacy, federal regulations cost our economy $1.75 trillion per year. The Obama Administration's December 2010 report on federal regulations listed 4,225 regulatory actions under development by federal agencies. Uncertainty about the cost of these upcoming regulations and the reasons devoted to compliance discourages employers from hiring new employees and expanding their businesses. CLICK HERE to read the full letter.

Sam Graves
Chairman

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